News/Media Release
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Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
The 57-year-old operation plans to build its network and broaden its reach to more new and used car dealers as well as regional and national commercial accounts.
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The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.
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The average used-vehicle listing price was $25,571, up slightly from the revised $25,536 at the start of April but down 6% from a year earlier.
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The company recently auctioned off items for a charity celebrating the life of a former employee's daughter.
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The Manheim Used Vehicle Value Index (MUVVI) fell to 198.4, a decline of 14% from a year ago.
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An independent survey conducted for NAAA provides the most comprehensive picture available of the wholesale auto auction industry.
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The 1.66 million used vehicles sold at retail are up 11% year over year compared to March 2023 and the highest volume since March 2022.
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Used-vehicle sales in the period were up more than 5% year over year, in line with spring fever and the tax refund season.
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This was the first time the Manheim Market Report index reading has been under 200 since March 2021, illustrating the outsized moves in the index over the last three years.
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The arrangement will help the five-lane auction develop business and expand further into the national vehicle consignor market.
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